Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.2%), and DJIA (flat) now sit mostly higher after each index faced losses wider than 0.5% earlier in the session. The Russell 2000 (-0.1%) and S&P Mid Cap 400 (-0.1%) now also sit little changed after considerable early losses. The current action is choppy, with the major averages now retreating from recent session highs.

While losses across mega-cap and tech names sent the major averages lower this morning, a solid intraday rebound in those names has seen the weakness reversed in short order. 

The information technology sector (+0.1%) now trades higher after facing a loss of over 1.0%. The PHLX Semiconductor Index is now flat after trading nearly 2.5% lower this morning. 

Apple (AAPL 260.63, +4.85, +1.90%) is a mega-cap standout, charting session highs amid enthusiasm for new product launches on March 4. 

Mega-cap stocks elsewhere are also showing substantial improvements, with the Vanguard Mega Cap Growth ETF (+0.2%) now modestly higher after shedding nearly 1.0% this morning. The consumer discretionary (-0.1%) and communication services (-0.5%) sectors have shed the bulk of their early losses as a result. 

There is still some considerable weakness across select pockets of the market, including the energy (-1.6%), materials (-1.2%), and consumer staples (-1.6%) sectors. However,